Global stocks rise in record high at the end of the year, dollar fell

New York (Debriefer)
2019-12-28 | Since 2 Day

Global stocks rise in record high at the end of the year, dollar fell

Global stock markets rose on Friday with expectations of global growth due to optimistic Chinese economic data and optimism that a trade deal between the United States and China is imminent, but the rise at the end of the year ebbed on Wall Street and the dollar fell as risk appetite increased.

Wall Street set all-time highs early and European shares rose to a third day of record peaks this week as various US and European indexes remained set to post their best year since the global financial crisis a decade ago.

Profits at Chinese industrial firms grew at the fastest pace in eight months in November, rising 5.4% from a year earlier to 593.9 billion yuan ($84.93 billion). The gains snapped three months of decline, but broad weakness in domestic demand remains a risk for Chinese corporate earnings in 2020.

The US-China trade war has rattled international commerce. Trade between the world’s two largest economies fell 15.2% in the 12 months through November from the same period in 2018, according to Panjiva, a S&P Global Market Intelligence unit.

The dollar slipped across the board as growing risk appetite sapped the safe-haven appeal of the greenback.

MSCI’s gauge of stock performance in 49 countries. PUS gained 0.26% while the pan-European STOXX 600 index rose 0.21%, both setting all-time highs.




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